SAN JOSE, Calif., March 19, 2018 (GLOBE NEWSWIRE) -- ForeScout Technologies, Inc. (NASDAQ:FSCT), a leading Internet of Things (IoT) security company, today announced that it has commenced a follow-on public offering of its common stock pursuant to a registration statement on Form S-1 filed previously with the U.S. Securities and Exchange Commission (SEC). ForeScout is proposing to sell 500,000 shares of common stock and the selling stockholders are proposing to sell 3,911,000 shares of common stock. In addition, certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 661,650 shares of common stock. ForeScout will not receive any proceeds from the shares sold by selling stockholders.
ForeScout intends to use the net proceeds from its sale in this offering to fund certain tax withholding obligations. In addition, this offering is intended to facilitate an orderly distribution of shares for the selling stockholders in this offering, including certain employees and investors.
Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, and Citigroup Global Markets Inc. are acting as lead book-running managers for the offering. UBS Securities LLC and KeyBanc Capital Markets Inc. are acting as book-running managers for the offering, and Stephens Inc. is acting as a co-manager.
The offering is being made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, toll-free: (866) 803-9204, email: firstname.lastname@example.org and from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ForeScout Technologies, Inc. helps make the invisible visible. Our company provides Global 2000 enterprises and government agencies with agentless visibility and control of traditional and IoT devices the instant they connect to the network. Our technology integrates with disparate security tools to help organizations accelerate incident response, break down silos, automate workflows and optimize existing investments. Learn more at www.forescout.com.
© 2018 ForeScout Technologies, Inc. is a Delaware corporation. ForeScout, the ForeScout logo, ActiveResponse, ControlFabric, CounterACT, CounterACT Edge and SecureConnector are trademarks or registered trademarks of ForeScout.
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Source:ForeScout Technologies, Inc.